IndianOil resumes work on projects worth Rs 1.04-lakh crore
Business Line, Delhi   09-Jul-2020

Indian Oil Corporation Ltd has resumed work on projects worth Rs 1.04 lakh crore across the country, after the easing of lockdown from April 20.

"Indian Oil has commenced works on 336 projects that have investment of morethan Rs 1 crore in each project, at an anticipated project cost totalling to Rs 1.04 lakh crore. The amount spent on these ongoing projects is about Rs 1,764 crore till the end of June. Additionally, more than 50 projects have also resumed since July 1," a company statement said.

The company has targeted a capital expenditure of Rs 26,143 crore in FY21, and in the first quarter achieved an approximate expenditure of Rs 2,674 crore, overcoming various issues on IOC has targeted a capex of Rs 26,143 crore in FY21 ground due to the Covid-19 pandemic, the statement said.

Major pipeline projects where works have resumed include the Rs 3,338-crore Paradip-Hyderabad products pipeline. Work on the Rs 3,028-crore augmentation of Paradip-Haldia-Durgapur LPG pipeline and the Rs 6,025-crore Ennore-Tiruvallur-Bengaluru-Pondicherry-NagapattinamMadurai-Tuticorin R-LNG pipeline has also resumed. "Work has commenced at major marketing infrastructure projects like LPG import facilities at Kochi (Rs 714.25 crore), LPG import facilities at Paradip (Rs 690 crore), capacity augmentation of Kandla Import Terminal from 0.6- 2.5 million tonne per annum (Rs 730.2 crore), construction of Petroleum, Oil, & Lubricants Terminal at Motihari (Rs 522 crore) and pipeline tap of point (TOP) terminal at Hyderabad (Rs 611 crore)," the statement said.

Some of the refinery projects under way are the Barauni Refinery expansion, including the petrochemical plant (Rs 14,810 crore), the ethylene glycol project at the Paradip Refinery (Rs 5,654 crore), fuel quality upgradation project at Paradip (Rs 3,361 crore) and at Barauni (Rs 1,774 crore) and the NCUexpansion and revamp of MEG & BEU unit at Panipat (Rs 16,36 crore).